In a surprising turn of events, an Ethereum whale from the ICO era has reappeared after more than six months of inactivity.
A wallet that participated in Ethereum’s ICO in 2015 and purchased 254,900 ETH at the ICO price of $0.311 per token transferred 7,000 ETH, equivalent to $24.28 million, to the Kraken exchange today.
This transaction marks the end of a 209-day streak of inaction for the whale, who still holds 40,000 ETH, worth about $138.9 million, in his wallet.
Source: Etherscan
This whale’s activity has attracted the attention of the crypto community – not only because of the large size of its holdings, but also because of its potential impact on the market.
This comes at the same time the US government moved 3,375 ETH, or about $11.75 million, to an unknown address today from an address holding the asset confiscated from Estonian businessmen Sergei Potapenko and Ivan Turõgin, as Bitcoin Magazine reported.
Large transactions by such early adopters can influence market sentiment and price dynamics, especially when moving to a large exchange like Kraken. Often (but not always), someone moving tokens to an exchange is either selling or preparing for further trading activity.
The timing of the transfer has sparked speculation in the crypto community, with some analysts suggesting it could be a sign of profit-taking, while others see it as a redistribution of assets or a liquidity injection into the market.
As both private whales and government entities mobilize large amounts of digital assets, the potential impact on market liquidity, price stability, and overall sentiment is significant.
Itadori
According to Decrypt
